Connect with us
Connect with us
A Comprehensive Report and Key Data of Fast Track Passport and Citizenship Programs of Grenada, St. Lucia and Antigua & Barbuda.
Citizenship by Investment (CBI) programs offer individuals the chance to obtain citizenship in exchange for investing in a country's economy. These programs are particularly popular in the Caribbean, where they have become vital economic tools. We will explore the CBI programs in Grenada, St. Lucia, and Antigua & Barbuda, highlighting key statistics and reports from respective government sources.
At INGWE, we have successfully helped thousands of families since 2018, from over 55 countries navigate the complex landscape of business and investment immigration. Connect with us for a personalized assessment - click here.
St. Lucia launched its CBI program in 2015 with a focus on transparency and efficiency.
Between 2022 to 2023, a total of 1076 applications were received in 1 year for the Citizenship Investment Program of St. Lucia. This is the highest number of applications received since 2016 (total 36 applications back in 2016). As COVID-19 hit, this number increased gradually from 408 total applications between 2020 to 2021 and then increasing yearly. Out of the total 1076 applications applied in 2022-2023, 544 applicants and their families were granted citizenship. Interestingly enough, there has been a bigger gap in these two statistics since 2016 onwards. Until end 2020-2021 reporting year, the granted applications were over 70%. As the number of applicants increased drastically, so did the number of low quality applications. This doesn’t mean that all applicants were denied. In 2022-2023, only 8 applications were denied out of a total of 1076. What happened to the rest between the ones that were granted and the ones which disappeared? They were withdrawn, abandoned, and did not proceed with the investment to finalize the citizenship process (i.e. their approval letter expired). The number of applications denied never increased over 27 per year since 2016 until end of reporting year 2022-2023.
This indicates two key points: A) It is easy to obtain an St. Lucia citizenship and passport since the eligibility requirements are very relaxed. B) Many applicants apply without having their funds ready or documentation in order to complete the whole process (hence many applicants abandon, expire or withdraw). Typically they would withdraw if there is a chance they might be refused – as this would affect their application to the other CBI programs in the Caribbean (Citizenship Based Investment).
The average processing time in 2022-2023 reporting period was 90-120 days (in terms of approval of the application to proceed with the investment for their citizenship to be granted).
Another very interesting fact from the reports are that over 69% of applicants seeking St. Lucia citizenship & passport, invested in the real estate projects, not the government economic fund donation nor the Government bonds. Only 22.2% donated to the government fund and 8% opted for the St. Lucia bond program – which interestingly enough has the best ROI out of all the CBI options for the St. Lucia passport. Of course we will have a video posted in the coming month on why the St. Lucia investment in government bonds is one of the top 3 investment ROI options to obtain your citizenship and passport from this country.
The number one source of applicants for the St. Lucia program in 2022-2023 was Asia based on the country of birth of the applicants (with 161 from China, 13 from India, leading the top 2 source countries in Asia). In 2nd place of the most number of applicants was a combination of North, South , Central America and Europe – with the USA leading the way with 52 and followed by Canada with 10 applicants. In third place was Africa (with the top spot in this category going to Nigeria with 53 applicants), and 4th place being the Middle-East (with Egypt taking the top spot, followed by Iran and expats born in Saudi Arabia), and 5th place was Russia (of course this was before the Caribbean islands banned all Russian nationals from being able to apply for the Citizenship based investment programs).
In the last reporting year of 2022-2023, St. Lucia raised approx. USD $ 39.88m through it’s CBI (Citizenship Based Investment) program through real estate, bonds, and government fund donations.
There are a lot more insights and statistics available from the St. Lucia CBI department from the previous reporting years which you can access using the link below. A lot of interesting facts and data which gives a good understanding of how these islands raise money and demand for their programs: https://www.cipsaintlucia.com/s/CIP-AR22-23-12-Aug-Final-wnoimagery.pdf
Refer to our latest article on the top 4 passports to purchase, including the top Caribbean island passports with details on the investment amounts required: Top 4 Passports to Purchase in 2025
Grenada's CBI program, established in 2013, is known for its innovation and benefits, including visa-free access to China.
• Application Volume: The third quarter of 2023 saw a record-breaking 621 applications, distributed between 242 under the National Transformation Fund (NTF) and 379 in approved projects.
• Approvals & Citizenship Grants: Out of these applications, 346 were approved, resulting in 1,112 new Grenadian citizens.
• Revenue Generation: Grenada’s CBI generated approximately US$ 96,851,851.85 in Q3 2023 alone, making it a critical contributor to the national economy.
• Shift Toward Real Estate: Grenada has experienced a significant shift towards real estate investments, with a larger percentage of applicants choosing approved projects over direct NTF donations.
• Regional Interest: The largest applicant groups in 2023 came from China, the Middle East, and Africa, reflecting growing interest from emerging markets.
• Economic Impact: A substantial portion of CBI-generated revenue is directed towards infrastructure and national development, positioning Grenada as a competitive destination for investors.
• Bottom Line: Grenada's CBI program remains strong and growing, with diversified investment options, a steadily increasing application volume, and substantial economic benefits.
Antigua & Barbuda offers a robust CBI program initiated in 2013, aimed at enhancing economic and infrastructural developments.
• 2024 Total Applications: The first half of 2024 saw 589 applications, reflecting an 2% increase from the same period in 2023.
• Approval Rate: Antigua maintains a high approval rate, with 92.5% of applications granted citizenship.
• Investment Preferences:
◦ 70% opted for the National Development Fund (NDF) due to its ease and affordability.
◦ 25% chose real estate, reflecting sustained demand in Antigua’s property market.
◦ 5% invested in business projects, which remains a niche category.
• Revenue Generation: The program contributed US$200,000,000 to national infrastructure projects in 2023-2024, including education, healthcare, and tourism initiatives.
• Processing Time: The average processing time remains 90-120 days for the initial approval for the application (as of 2023-2024 statistics – before the price change and backlog that was created by H2 2024).
• Top Applicant Countries: The largest groups of investors in 2024 come from China, the Middle East, and Russia, with growing interest from North American and European applicants.
Bottom Line: Antigua & Barbuda continues to attract high volumes of applications, with stable approval rates, diverse investment options, and fast processing times.
You may have a lot of questions now about the Citizenship based programs. We are happy to announce our FAQ of the Caribbean Island Passports are posted here for you to view: FAQ Citizenship Based Investment Programs
📢 Want expert advice on Caribbean CBI programs? Contact us today for a custom quote
|
Country |
Last Reporting Year Applications |
Approval Rate |
Most Popular Investment |
Processing Time for initial approval |
Revenue Generated (Latest Year) |
|
Grenada |
621 |
89.7% |
Real Estate (61%) |
4-6 months |
US$ 96.85m (Q3 2023) |
|
St. Lucia |
1,076 |
92% |
Real Estate (69%) |
3-4 months |
USD $ 39.88m (2022-23) |
|
Antigua & Barbuda |
589 |
92.5% |
NDF Contribution (70%) |
3-4 months |
US$200m (2023-24) |
• Grenada's CBI program is growing rapidly, with higher revenue generation and increasing preference for real estate. Although many applicants apply for the real estate investment option, not all Grenada projects turn into tangible real estate assets. Therefore investors should pay special attention and demand clear transparency from the agents who are offering them the specific projects which they are planning to invest in. Grenada’s key program highlights are E-2 Visa status with the USA (although your application will be refused since you don’t reside in Grenada) and Visa-Free travel to China.
• Lucia’s CBI program is seeing a record number of applications, with real estate investments dominating. It is the only island which offers the Government Bond program where investors can have their full investment returned without interest after 5 years (the amount is $300,000). This is one of the top ROI options for the Caribbean Island citizenship based programs.
• Antigua & Barbuda remains one of the fastest CBI programs, with strong NDF contributions fueling public projects. It has one of the most robust program amongst all the islands, highest due diligence, and one of the best reputations for the CBI. It is one of the highest demand countries for many passport seeking investors from China, USA and around the globe. You rarely find Antigua & Barbuda investment options underselling in the market, unlike other islands which have many loopholes and schemes by island agents to lower the price for their investors – but which may break the regulations of the CBI and have serious consequences in the future during audits.
If you’re thinking about immigrating whether permanently or temporarily - you’re at the right place! Our team speaks over +10 languages, and we help applicants from over 55 different countries during their immigration process. To contact us click here.
Don’t Miss Out on Essential Updates!
Laws and requirements for residency programs can change, and staying ahead of these changes is crucial. By staying informed, you ensure your application process is smooth, fast, and up-to-date.
Subscribe and Connect With Us!
We’re here to help you navigate global mobility opportunities! Be the first to know about program updates, expert tips, and news by following us on social media and subscribing to our YouTube channel. Get access to exclusive content, real-time program updates, and expert advice that will help you take the next step in your global residency journey.
Let us guide you through your residency or passport journey—start today, and stay informed for your next step!
